Marvel Biosciences Corp. Retains Virtus Advisory Group to Provide Corporate Communications Services

Calgary, Alberta--(Newsfile Corp. - August 3, 2021) - Marvel Biosciences Corp. (TSXV: MRVL) ("Marvel" or the "Company") is pleased to announce that it has retained Virtus Advisory Group Inc. ("Virtus") to develop and implement a strategic corporate communications program to increase the Company's exposure among industry stakeholders and investors across Canada.

In connection with the engagement, Virtus has been awarded a consulting contract that includes a monthly fee of $7,000 and a grant of incentive stock options, which will vest in equal installments over a 12-month period, to acquire 400,000 common shares of the Company, exercisable at a price of $0.40 per share for a period of five years from date of grant. The 400,000 incentive stock options are subject to Board of Director approval, regulatory approval and policies as applicable by the "TSXV" and may only vest and be exercised after disinterested shareholder approval of the Company's stock option plan at the next shareholder meeting held by the Company.

About Virtus Advisory Group

Virtus is a Toronto-based consulting firm, providing select private and publicly listed companies with business consulting, capital markets strategy and investor relations services. The Company provides expert counsel and access to an unmatched network of investors and capital markets professional across Canada and the United States. Virtus helps issuers establish the relationships and the investor confidence required to build long-term shareholder value. Visit www.virtusadvisory.com for more information.

About Marvel Biosciences Corp.

Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based biotechnology company that utilizes a "drug redevelopment" approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to traditional biotechnology companies.

Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression & anxiety, Alzheimer's, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

Contact Information

Investor Relations:
Virtus Advisory Group
Tel: 416-644-5081

Email: info@virtusadvisory.com

Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, CEO
Tel: 403-770-2469

Email: info@marvelbiotechnology.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

All information contained in this news release with respect to the Company and its subsidiary, (collectively, the "Parties") were supplied by Marvel, respectively, for inclusion herein and each parties' directors and officers have relied on each other for any information concerning such Party.

This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and include other risks detailed from time to time in the filings made by the Company under securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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